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this is why signal is a mirage in tradfi, the second you find one, someone turns it into noise. pizza, parking lots, satellite heatmaps… it’s all just the financial version of counterintelligence ops. wonder how much of the market is actual info vs just games played between players trying to fake each other out.
you could ask that question about most financial markets, really. How much is real-world benefit and how much is games between hedge fund players and/or dumb retail money?
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